Central European Media Enterprises Ltd

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CETV : NASDAQ : Services
$2.31 | %
Today's Range: 2.29 - 2.36
Avg. Daily Volume: 146,400
09/23/16 - 3:59 PM ET

Financial Analysis


CENTRAL EUROPEAN MEDIA's gross profit margin for the second quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. CENTRAL EUROPEAN MEDIA has average liquidity. Currently, the Quick Ratio is 1.32 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has significantly decreased by 58.79% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q2 FY16 Q2 FY15
Net Sales ($mil)175.21166.83
EBITDA ($mil)53.6347.26
EBIT ($mil)43.8936.89
Net Income ($mil)-141.32-8.68


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)46.4438.01
Total Assets ($mil)1421.951482.25
Total Debt ($mil)1054.6878.64
Equity ($mil)147.41357.73


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin45.6545.54
EBITDA Margin30.6128.32
Operating Margin25.0522.11
Sales Turnover0.430.43
Return on Assets-15.09-14.1
Return on Equity-149.13-45.68
Debt Q2 FY16 Q2 FY15
Current Ratio2.040.77
Debt/Capital0.880.71
Interest Expense29.5541.75
Interest Coverage1.490.88


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)141.46135.8
Div / share0.00.0
EPS-0.98-0.11
Book value / share1.042.63
Institutional Own % n/a n/a
Avg Daily Volume164542.0158777.0

Valuation


SELL. This stock’s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. For additional comparison, its price-to-book ratio of 2.18 indicates a discount versus the S&P 500 average of 2.78 and a discount versus the industry average of 3.17. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, CENTRAL EUROPEAN MEDIA proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
CETV NM Peers 22.59   CETV 5.15 Peers 11.33

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

CETV's P/E is negative making this valuation measure meaningless.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

CETV is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
CETV NA Peers 23.20   CETV NA Peers 1.18

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

CETV's ratio is negative making this valuation measure meaningless.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
CETV 2.18 Peers 3.17   CETV -30.97 Peers 13.13

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

CETV is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, CETV is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
CETV 0.52 Peers 6.69   CETV -3.62 Peers 12.18

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

CETV is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

CETV significantly trails its peers on the basis of sales growth

 

 

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